Global Digital Signage market expected to record a CAGR of ~7% during the forecast period (2017-2028): Ken Research

 What Is The Size Of Global Digital Signage Industry?

Global Digital Signage market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.

The Digital Signage Market is largely driven by the technological advancements achieved in display tech that make it easier to reach out to the targeted audience in an effective and engrossing way.

The moderately paced yet steady and consistent growth in the digital signage market is majorly attributed to its capacity to reach out to a large audience with a variety of content options, including digital videos, motion pictures, and more. The methods are far more sophisticated than the traditional modes of advertising, equipped with biometrics, and other advanced features, such as gaze tracking and heat paths.

Another factor that has helped the digital signage market to grow is the advancement in display technology. While the major technology components in the market remain LCD, LED, and projection, LED displays, as a standalone category, have advanced a lot with OLED displays, Micro LED displays, and direct-view fine-pixel LED displays. Micro LED displays have gone beyond the capabilities of OLED by removing many of OLED’s inherent drawbacks, such as shorter lifespan, screen burn-in, limited luminosity, etc.

Furthermore, Brands increasingly opting to go for online promotions pose a challenge to the growth potential of the digital signage market. According to the ‘IAB Internet Advertising Revenue Report: Full Year 2021’, Social Media advertising in 2021 was up nearly 40% to US$57.7 billion.

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Global Digital Signage Market By Type

The Global Digital Signage market is segmented by Type into Video Walls, Video Screens, Transparent LED Screens, Digital Posters, Kiosks and Others.

Video walls accounted for the largest segment of the market, type-wise in 2022. In terms of growth, Transparent LED Screens are expected to grow at the fastest pace, till 2028.

The present market share of video walls is bolstered by its presence across shopping malls, public gathering places, galleries, and exhibition centers.

Technological advancements, on the other hand, will drive growth in the transparent LED segment. These are energy-efficient product types with minimal overhead expenditure involved.

Global Digital Signage Market By Component

The Global Digital Signage Market is segmented by Component into Hardware, Software and Services.

Component-wise, hardware is estimated to account for the largest segment of the market in 2022. Advancement in display technologies is expected to help this market - going ahead – to retain its dominance.

A host of advancements are happening in the hardware segment. For instance, the display resolution technology can now handle 1080p, 4K, and 8K displays. It is also possible to host three-dimensional displays without the audience requiring 3D glasses to enjoy them. The fine-pitch LED video walls, capable of 4K and HDR display, are ultra-thin and ultra-light. These video walls are conducive to flat and curved surfaces and can be installed through hanging or stacking. Because of being lightweight and thin, these walls are easy and convenient to transport from one place to another.

Global Digital Signage Market By Technology

The Global Digital Signage market is segmented by Technology into, LCD, LED and Projection.

Technology-wise, the LED segment is accounted for the largest revenue share in the market in 2022.

Advancements in the LED technology segment have been many, including the development of OLED, Micro LED, and direct-view LED displays. Adoption of the LED technology has largely been driven by its high-end display quality and installation-friendly hardware compatibility.

However, many marketers and advertisers also adopt LCD for its budget-friendly features and low production and set-up cost.

Global Digital Signage Market By Location

The Global Digital Signage market is segmented by Location into Indoor and Outdoor.

The indoor segment is estimated to account for the largest market share of the digital signage market, location-wise in 2022.

Indoor or in-store locations are more efficient when it comes to reaching out to a targeted audience group through immersive, high-quality displays.

While the retail sector, including retail shops and shopping malls, is highly adept in deploying digital signage efficiently, banks, corporate offices, and healthcare facilities are also leveraging them for increased traction and seamless delivery of crucial messages and instructions.

Global Digital Signage Market By Content Category

The Global Digital Signage market is segmented by Content Category into Broadcast and Non-Broadcast.

Content Category-wise, the Broadcast segment is expected to emerge as the fastest-growing during the forecast period of 2022-2028.

The broadcast segment comprises a number of sub-segments, such as News, Weather, Sports, and more. Sub-segments like News and Weather are linked with every day public life and the smooth running of businesses and markets at large.

However, the field of sports also deploys digital signage for varied purposes, starting from the seamless running of ticket distribution points to advertising the next event. The corporate sector is also fast realizing the benefits of digital signage to drive their vision and policies better.

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Key Topics Covered in the Report

• Snapshot of the Global Digital Signage Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Digital Signage Market
• Historic Growth of the Overall Global Digital Signage Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Global Digital Signage Industry
• Overview, Product Offerings, and Strength & Weakness of Key Competitors
• Covid-19 Impact on the Overall Global Digital Signage Market
• Future Market Forecast and Growth Rates of the Total Global Digital Signage Market and by Segments
• Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
• Analysis of the Global Digital Signage Market
• Major Production/Supply and Consumption/Demand Hubs within Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Region

Notable Emerging Companies Mentioned in the Report

• Raydiant
• ScreenCloud
• Waev
• Comeen
• Sparsa Digital
• NoviSign Digital Signage
• Pickcel
• NEON
• Nanovo
• Intelisa

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Digital Signage Service Providers
• Digital Signage Hardware Manufacturers
• Audiovisual Production Software Companies
• Advertising and Brand Promotion Agencies
• City Municipal Authorities
• Shopping Mall Owners and Chain Retail Businesses
• Transport Companies/ Public Transport Authorities
• Electronics/ Semiconductor Manufacturing Companies
• Out of Home Advertising Companies
• Outdoor Advertising Infrastructure Companies
• Components and Material Suppliers for Digital Signage Equipment

Time Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

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Global Digital Signage Market

Global Digital Signage Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

 The Global Digital Signage Market is estimated to have grown to a size of nearly ~US$20 billion in 2022 from ~US$15 billion in 2017. The market is expected to grow further to a size of around US$30 Billion by 2028 at a CAGR of around 7% for the forecasted period of 2022-2028, owing to the technological advancements achieved in display tech that make it easier to reach out to the targeted audience in an effective and engrossing way.

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Key Growth Drivers

• The moderately paced yet steady and consistent growth in the digital signage market is majorly attributed to its capacity to reach out to a large audience with a variety of content options, including digital videos, motion pictures, and more. The methods are far more sophisticated than the traditional modes of advertising, equipped with biometrics, and other advanced features, such as gaze tracking and heat paths. Gaze tracking, for instance, helps find insights on a host of crucial consumer behavior parameters, such as viewer attention, interest, arousal, and more, by analyzing human processing of visual information. Essentially, it helps brands make their content more effective for an acutely targeted audience.
• Another factor that has helped the digital signage market to grow is the advancement in display technology. While the major technology components in the market remain LCD, LED, and projection, LED displays, as a standalone category, have advanced a lot with OLED displays, MicroLED displays, and direct-view fine-pixel LED displays. Micro LED displays have gone beyond the capabilities of OLED by removing many of OLED’s inherent drawbacks, such as shorter lifespan, screen burn-in, limited luminosity, etc. Moreover, MicroLEDs support the possibilities of building a more scalable business model by enabling the tiling of smaller modules into a larger display. Not only does this feature help to do away with the requirement for cost-incurring large substrates, but it also helps to segregate the production into multiple geographies. Eventually, it will lead to the emergence of new display makers in new geographies. The direct-view LED display technology products, led by companies like Samsung, have helped introduce video walls with enhanced image quality, deeper contrast ratio, well-balanced color uniformity, and flexible modular design.
• Brands increasingly opting to go for online promotions pose a challenge to the growth potential of the digital signage market. According to the ‘IAB Internet Advertising Revenue Report: Full Year 2021’, Social Media advertising in 2021 was up nearly 40% to US$57.7 billion. The growth was driven by the consumers’ growing engagement with platforms like Facebook, Instagram, Snapchat, TikTok, Twitter, and more. The digital signage market is also susceptible to cyber-attacks, including phishing attacks, ransomware, and malware attacks.
• Like many other industries, the Digital Signage market also suffered from supply-chain disruptions and manufacturing unit shutdowns. Restrictions on travel and public gatherings also hampered growth. However, many new application areas emerged as governments and public health and information broadcasting authorities started using digital signage kiosks and information displays to make people aware of the precautionary measures. Digital Signage hand sanitizer kiosks with automated dispenser systems also proved effective.

Key Trends by Market Segment

By Type:  Video walls accounted for the largest segment of the market, type-wise in 2021. In terms of growth, Transparent LED Screens are expected to grow at the fastest pace, till 2028.

• The present market share of video walls is bolstered by its presence across shopping malls, public gathering places, galleries, and exhibition centers.
• Technological advancements, on the other hand, will drive growth in the transparent LED segment. These are energy-efficient product types with minimal overhead expenditure involved.

For more information, request a free sample

By Component: Component-wise, hardware is estimated to account for the largest segment of the market in 2022. Advancement in display technologies is expected to help this market - going ahead – to retain its dominance.

• A host of advancements are happening in the hardware segment. For instance, the display resolution technology can now handle 1080p, 4K, and 8K displays. It is also possible to host three-dimensional displays without the audience requiring 3D glasses to enjoy them.
• The fine-pitch LED video walls, capable of 4K and HDR display, are ultra-thin and ultra-light. These video walls are conducive to flat and curved surfaces and can be installed through hanging or stacking. Because of being lightweight and thin, these walls are easy and convenient to transport from one place to another.

By Technology: Technology-wise, the LED segment is accounted for the largest revenue share in the market in 2021.

• Advancements in the LED technology segment have been many, including the development of OLED, MicroLED, and direct-view LED displays. Adoption of the LED technology has largely been driven by its high-end display quality and installation-friendly hardware compatibility.
• However, many marketers and advertisers also adopt LCD for its budget-friendly features and low production and set-up cost.

For more information, request a free sample

By Location: The indoor segment is estimated to account for the largest market share of the digital signage market, location-wise in 2022.

• Indoor or in-store locations are more efficient when it comes to reaching out to a targeted audience group through immersive, high-quality displays.
• While the retail sector, including retail shops and shopping malls, is highly adept in deploying digital signage efficiently, banks, corporate offices, and healthcare facilities are also leveraging them for increased traction and seamless delivery of crucial messages and instructions.

By Content Category: Content Category-wise, the Broadcast segment is expected to emerge as the fastest-growing during the forecast period of 2022-2028.

• The broadcast segment comprises a number of sub-segments, such as News, Weather, Sports, and more. Sub-segments like News and Weather are linked with everyday public life and the smooth running of businesses and markets at large.
• However, the field of sports also deploys digital signage for varied purposes, starting from the seamless running of ticket distribution points to advertising the next event. The corporate sector is also fast realizing the benefits of digital signage to drive their vision and policies better.

By Screen Size: In terms of the screen size of the signage, the Below 32 Inches segment is estimated to occupy the largest share of the market. However, the 32 to 52 inches segment is expected to witness the fastest CAGR in the forecast period of 2022-2028.

• The market share of the below 32 inches category stems from the fact that it is convenient to put up in a range of locations. Since the Indoor segment drives the market, smaller installations find wider use at small-sized retail shops.
• However, adoption of the larger screen-size displays is expected to grow owing to their use in the corporate sector, healthcare industry, and transport facilities.

By Application: The Entertainment segment is estimated to account for the largest share of the market in 2022. However, many other application segments, including Healthcare and Retail are also expected to emerge as significant stakeholders in the industry.

• The advancement in technology, especially those achieved in display clarity and immersive quality, is aiding the rise of digital signage. Entertainment industry players are finding the use of these products to be increasingly in their favor as they do not need to compromise the quality of their output.

By Region: Region-wise, North America is estimated to account for the largest share of the market in 2022. However, during the forecast period of 2022-2028, The North American region is expected to account for the largest share as it has a well-formed supply chain of digital signage providers, backed by continuous innovations in the electronics and semiconductor industry.

• Awareness about the efficient use of digital signage is increasing in the Asia Pacific market. Growth in the retail industry, travel, and hospitality sectors is also leading to increased adoption, especially in two of the largest consumer economies of India and China.

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Competitive Landscape

The Global Digital Signage market is extremely competitive comprising nearly 1,000 players, including globally diversified players, regional players, and country-niche players having expertise in addressing specific display and installation needs relating to one or multiple specific sub-segments.

Large global players constitute ~5% of the market in terms of the number of competitors, while regional players hold the largest share. Some of the major players in the market include ADFLOW Networks, BrightSign LLC, Cisco Systems, Inc., Intel Corp, LG Electronics, NEC Display Solutions, Omnivex Corporation, Panasonic Corporation, Samsung, Scala Digital Signage, etc.

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Recent Developments Related to Major Players

• In the second week of September 2022, Samsung Electronics Co., Ltd. launched two new series of The Wall at the Samsung Display Tech Summit 2022. The launch was in the Southeast Asia and Oceania (SEAO) Region. The Wall series of products comprise Samsung’s advanced Micro LED solutions. Samsung believes its MicroLED technology will offer an efficient and immersive viewing experience in a high-resolution, large-screen format.
• In June 2022, LG Business Solutions USA launched 54-inch bezel-free LED Bloc displays. These displays come with no dividing lines. The LSAC series direct-view LED (dvLED) helps integrate and leverage existing VESA mounting hardware from previous LCD installations.

Conclusion

The Global Digital Signage market is expected to grow at a steady pace during the forecast period. Multiple factors will drive growth in this segment, including its targeting efficiency and the ability to generate actionable insights about consumer behavior. Technological advancements happening in the industry will also help it capture new markets, especially in application segments relating to healthcare, retail, and travel. The market is extremely competitive with ~1000 players but is dominated by country-niche players.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.

Ken Research has recently published report titled, Global Digital Signage Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers the size and forecasts for the four major regions of the market. The revenue used to size and forecast the market for each segment is USD billion.

Market Taxonomy

By Type	Video Walls Video Screens Transparent LED Screens Digital Posters Kiosks Others
By Component	Hardware Software Services
By Technology	LCD LED Projection
By Location	Indoor Outdoor
By Content Category	Broadcast Non-Broadcast
By Screen Size	Below 32 inches 32 to 52 Inches More than 52 Inches
By Application	Retail Hospitality Entertainment Stadiums & Playgrounds Corporate Banking Healthcare Education Transport Others
By Region	North America USA Canada Mexico Europe Germany UK France Spain Italy Rest of Europe Asia Pacific China Japan South Korea Indonesia AustraliaRest of Asia Pacific LAMEA Latin America Middle East  Africa
Key Players	ADFLOW Networks BrightSign LLC Cisco Systems, Inc. Intel Corp LG Electronics NEC Display Solutions Omnivex Corp. Panasonic Corp. Samsung Scala Digital Signage

3 Key Insights on Competitive Landscape in the Global Digital Signage Market: Ken Research

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Country Niche Players Dominate the Market Holding ~50% Share Despite the Presence of about ~1,000 Competitors Comprising a Large Number of Regional Players and a Significant number of Global Players, finds a recent market study on the Global Digital Signage Market

Digital Signage installations leverage LCD, LED, or projection technology to exhibit all sorts of audiovisual or multimedia content for the purpose of advertising or disseminating information deemed to be crucial for people at large. Digital Signage can be put up on a range of devices, including Video Walls, Video Screens, or transparent LED screens. A host of industries, including retail, healthcare, banking, etc., deploy indoor or outdoor signage as a part of their communication and advertising strategy. Digital Signage may have different screen sizes, starting from less than 32 inches screen to more than 52 inches.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

Global Players Constitute ~5% of the Total Number of Competitors, While Country Players Dominate Representing ~65% of Total Competitors.

A comprehensive competitive analysis conducted during the Research Study found that the Global Digital Signage Market is highly fragmented with ~1,000 players, including globally diversified players, regional players, and a large number of country-niche players with their expertise in offering customized digital signage solutions conducive to the topography of the region. Some global players, expected to retain their leadership in the market during the forecast period, include ADFLOW Networks, BrightSign LLC., Cisco Systems, Inc., Intel Corp., LG, Samsung, Panasonic, etc.

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Technological Innovation and New Product Launches Drive the Major Players in Formulating their Key Strategy

Detailed comparative analysis of key competitors available within the Research Study shows that numerous specialist companies such as Scala Digital Signage, Panasonic Corporation, and more, are highly focused on providing a significant number of digital signage solutions and advanced techniques that can be used across end-user industries. In addition, numerous companies and organizations are aggressively investing in advanced technology and innovation to have a strong foothold in the market.

• In June 2022, Scala announced the launch of Scala Enterprise version 12.70, its flagship digital signage platform. The new version was strengthened with an improvised codebase that could facilitate new feature developments faster. Moreover, the provisioning process could be completed from a mobile device, reducing installation time and making the process conveniently repeatable.
• In August 2021, Panasonic launched its “Complete Digital Signage Solution” ecosystem of products, comprised of customized products, software, and services. According to Panasonic, the launch would facilitate the control and maintenance of content locally or remotely. Panasonic aims at catering to Education, Corporate, and Retail Industries with these solutions.

Increasing Government Regulations, and Investments propelling the growth of the Digital Signage Market

• According to Jeff Hastings, the CEO of BrightSign, the US digital signage market requires to comply with the Defense Information Systems Agency (DISA) regulations. Responsible for looking after IT security across all government organizations in the US, DISA ensures robust testing and evaluation processes for digital signage. Moreover, the TAA (the Trade Agreements Act of Congress) ensures that additional requirements are met when it comes to federal government purchases.
• There are nearly 30,000 government hospitals and dispensaries in India. Digital Signage installations are getting increasingly deployed at these facilities to make people aware of programs that the Indian government has introduced for the welfare of people, especially in rural areas. Digital Signage also helps disseminate public welfare messages, videos, and ads better in the country.

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Key Topics Covered in the Report

• Snapshot of the Global Digital Signage Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Digital Signage Market
• Historic Growth of the Overall Global Digital Signage Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Global Digital Signage Industry
• Overview, Product Offerings, and Strength & Weakness of Key Competitors
• Covid-19 Impact on the Overall Global Digital Signage Market
• Future Market Forecast and Growth Rates of the Total Global Digital Signage Market and by Segments
• Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
• Analysis of the Global Digital Signage Market
• Major Production/Supply and Consumption/Demand Hubs within Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Region

Notable Emerging Companies Mentioned in the Report

• Raydiant
• ScreenCloud
• Waev
• Comeen
• Sparsa Digital
• NoviSign Digital Signage
• Pickcel
• NEON
• Nanovo
• Intelisa

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Digital Signage Service Providers
• Digital Signage Hardware Manufacturers
• Audiovisual Production Software Companies
• Advertising and Brand Promotion Agencies
• City Municipal Authorities
• Shopping Mall Owners and Chain Retail Businesses
• Transport Companies/ Public Transport Authorities
• Electronics/ Semiconductor Manufacturing Companies
• Out of Home Advertising Companies
• Outdoor Advertising Infrastructure Companies
• Components and Material Suppliers for Digital Signage Equipment

Time Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

For More Information on the Research Report, refer to below links: –

Global Digital Signage Market: Ken Research

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